Tyra Banks on financing her own beauty business

(upbeat techno music) (cheers) – Tyra Banks, legendary
model turned startup investor and entrepreneur is here at the Nasdaq to celebrate Tyra Beauty. Thanks for joining us. – Thank you. – So tell us about this
company you’re working on. What is Tyra Beauty? – So Tyra Beauty is what
I would like to call a cosmetics experience. Not a cosmetics line. We have a couple of tag lines, one is we’re beauty,
business and bad-assery. So the beauty is makeup, the business is that we have our entrepreneurs that
are our social sellers, that actually sell Tyra
Beauty and make money. Make a percentage of what they sell and anybody can be what
we call a beauty-tainer. They’re called beauty-tainers. And then the bad-assery
is we like to be a little dangerous, a little
rebellious, have a little fun. I launched it one year ago. This is the Nasdaq
Entrepreneurial Center’s one year anniversary, Tyra Beauty’s one year anniversary, when we came out of beta a year ago. And so it’s just so nice
to be here, it’s amazing. – Yeah, yeah so and you
have a lot going on. You’re also starting a new show on NBC with Rob Dyrdek where you’re
gonna be investing in startups. Can you tell us a little
bit what to expect there? – Yeah, so the show is called Funded. This is actually Rob’s creation so this is one of the first
shows that I’ve ever done that I didn’t create. And usually I don’t do that but when Rob approached
me and I met with him. I was like, this is amazing,
hell yes I am down for this and I can’t say too much but it’s NBC, it’s Rob and then also Rohan Oza who is a marketing guru. And we just all had a
team dinner last night and it was a bunch of love and a bunch of trash talk too. So that’s what you’re gonna see on TV. And you know, giving
people that American dream and giving them an insanely
amazing prize of not seed money but it’s money to take
them to the next level. So we’re really taking businesses that are already doing very well, to like overdrive. – And so outside of the
show, you’ve also done some startup investing,
you’ve had fierce capital. What companies have you invested in and what are you looking for? – One of my favorites that I’ve
invested in is called Muse, the Muse. It’s a female founder,
her name is Catherine and she is a genius and the company is growing. I love getting my emails and my updates like this was a smart
one, this was a good one. So I have about seven or eight companies that I’ve invested in. A new one that I invested in is most of them are kinda
female, but I’m open. There’s a very famous chef
by the name of Roy Choi who is starting a fast food almost like high end fast food for a very affordable price. So I’ve invested in his his brand as well. So those are two of my favorites, but a I do have a very
small portfolio of eight. I was going for 30 to 40 businesses but I decided to halt with that investment because Tyra Beauty is personally funded. So it is self funded. So every check that goes
out, every inventory, or when it comes to full time hires, everything comes from me
and so I felt like I needed to put the oxygen mask on
myself before my children like they say to do on the airplane. So put the oxygen mask and the capital is going to Tyra Beauty right now and pausing on fierce capital. – Well you’ve definitely
been keeping yourself busy and so I understand you’re also gonna be teaching at Stanford. What is that about? – I’m very excited. So I recently spoke at Stanford and did about, I don’t
know, an hour and a half, two hour speech Q and A session. One of the professors
came up to me and said you know what, that’s not a speech and a presentation,
that’s a class. She approached me and then we created something and took it to the the assistant dean and they approved. Or associate dean. And now I am going to be Professor Banks. – Wow. I’m jealous, I wish I
had professors like that. And so do you have any tech mentors, any people that you
look up to in the world of Silicon Valley? – Yeah so I am a cold caller. He’s not in Silicon
Valley, but I read his book and it is called Delivering Happiness. I read it many years ago, Tony Shay, the CEO of Zappos. And I was amazed by his story. All the way from him loving
Taco Bell, which I love. Down to just how just savy he was and how culture
meant everything to him. And he wrapped this company around culture that just so happened to sell
shoes and now other items. I cold called him and I was
like, this is Tyra Banks and I love your book and
I want you to mentor me and I love Taco Bell too. And he was like, this is not Tyra Banks, this is a prank call
and he almost hung up. He’s like prove it. And I was like how do I prove it? And I was like, coming up on America’s Next Top Model, and he was like oh my God, it is you. And so I’ve stayed in touch with him. I love Joe Gebbia out
here with Air B and B. I call him about even HR issues like do you do you know, paid time off or do you do flex time. You know, just like
those minutia things from these like titans of industry and tech is everything to me. And I am not ashamed of
asking to be mentored. – Great, well last thing, will you smize? – Of course, no will you smize? – Oh, I don’t know. – So no mouth, Novocaine mouth. – Okay. – No relax. – Okay. – Oh my God, you’re so just so beautiful. Okay wait, no smile at all, like dead. Like Novocaine, I just gave
you a shot at the dentist, there you go, now squeeze your eyes and look into that camera
like you’re pissed. Even more, no lips, no lips, no lips. Dead lock, chin up, chin
up, chin up, chin up, squeeze eyes tighter,
you’re just so pissed off. Yes, yes, yes, yes you’re doing it. You’re doing it. That was it. You’re smized, you smiled with your eyes. – That’s awesome, I’m
so excited about that. Thank you so much for joining us here. – Thank you. Thank you. (upbeat techno music)

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12 thoughts on “Tyra Banks on financing her own beauty business

  1. She used to be beautiful!!!! What the hell happened. Looks like too much weave and make-up and possibly facial work??? Eww!!

  2. I love being a beautytainer got to meet her in Vegas and Portland she is so down to earth and awesome. she invested her own money in this company. Don't believe me watch the Steve Harvey Show when she was on. If you want more info let me know! 💛

  3. My name is Rhonda Evans and I would like a invite to become a beauty tainer here in VA.  Could you please respond back to this message with contact information to get started.

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